| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Metair Investments Ltd. | 301,616 | 1,701,877 | 12.03 | 2.24 | 1,400,261 | 13.79 | 2.21 |
| Automobiles and Parts Total | 301,616 | 1,701,877 | 12.03 | 2.24 | 1,400,261 | 13.79 | 2.21 |
| Cash on call | 0 | 0 | 3.87 | 0.72 | 0 | 4.19 | 0.67 |
| Cash on call Total | 0 | 0 | 3.87 | 0.72 | 0 | 4.19 | 0.67 |
| AECI Ltd. | -99,053 | 0 | 0.00 | 0.00 | 99,053 | 8.66 | 1.39 |
| Chemicals Total | -99,053 | 0 | 0.00 | 0.00 | 99,053 | 8.66 | 1.39 |
| EPE Capital Partners Ltd. | 1,618 | 2,151,037 | 10.82 | 2.02 | 2,149,419 | 11.59 | 1.86 |
| Closed End Investments Total | 1,618 | 2,151,037 | 10.82 | 2.02 | 2,149,419 | 11.59 | 1.86 |
| Raubex Group Ltd. | 0 | 484,829 | 21.38 | 3.99 | 484,829 | 25.70 | 4.12 |
| Wilson Bayly Holmes - Ovcon Ltd. | 0 | 61,535 | 11.11 | 2.07 | 61,535 | 14.35 | 2.30 |
| Construction and Materials Total | 0 | 546,364 | 32.49 | 6.06 | 546,364 | 40.05 | 6.43 |
| ADvTECH Ltd. | 0 | 991,882 | 32.67 | 6.09 | 991,882 | 33.57 | 5.39 |
| Consumer Services Total | 0 | 991,882 | 32.67 | 6.09 | 991,882 | 33.57 | 5.39 |
| Equity Derivative | 0 | 0 | 5.73 | 1.07 | 0 | 24.40 | 3.92 |
| Derivatives Total | 0 | 0 | 5.73 | 1.07 | 0 | 24.40 | 3.92 |
| Nutun Ltd. | -2,647,632 | 0 | 0.00 | 0.00 | 2,647,632 | 6.46 | 1.04 |
| Finance and Credit Services Total | -2,647,632 | 0 | 0.00 | 0.00 | 2,647,632 | 6.46 | 1.04 |
| Oceana Group Ltd. | -43,094 | 248,413 | 14.41 | 2.69 | 291,507 | 19.67 | 3.16 |
| Food Producers Total | -43,094 | 248,413 | 14.41 | 2.69 | 291,507 | 19.67 | 3.16 |
| Financials positions individually less than 1% of fund | 0 | 0 | 13.21 | 2.46 | 0 | 9.71 | 1.56 |
| General Financial Total | 0 | 0 | 13.21 | 2.46 | 0 | 9.71 | 1.56 |
| Industrials positions individually less than 1% of fund | 0 | 0 | 9.01 | 1.68 | 0 | 6.06 | 0.97 |
| KAP Ltd. | -1,542,302 | 5,043,015 | 12.76 | 2.38 | 6,585,317 | 20.22 | 3.24 |
| Mondi plc | 75,972 | 75,972 | 20.68 | 3.86 | 0 | 0.00 | 0.00 |
| General Industrials Total | -1,466,330 | 5,118,987 | 42.45 | 7.92 | 6,585,317 | 26.28 | 4.22 |
| African Rainbow Minerals Ltd. | -77,964 | 0 | 0.00 | 0.00 | 77,964 | 11.73 | 1.88 |
| Afrimat Ltd. | 0 | 153,854 | 8.94 | 1.67 | 153,854 | 10.92 | 1.75 |
| Industrial Metals and Mining Total | -77,964 | 153,854 | 8.94 | 1.67 | 231,818 | 22.64 | 3.63 |
| Hudaco Industries Ltd. | 29,040 | 117,901 | 22.11 | 4.12 | 88,861 | 19.19 | 3.08 |
| Invicta Holdings Ltd. | -172,837 | 440,913 | 14.11 | 2.63 | 613,750 | 20.25 | 3.25 |
| Industrial Support Services Total | -143,797 | 558,814 | 36.22 | 6.76 | 702,611 | 39.45 | 6.33 |
| Grindrod Ltd. | 0 | 793,633 | 9.67 | 1.80 | 793,633 | 9.49 | 1.52 |
| Industrial Transportation Total | 0 | 793,633 | 9.67 | 1.80 | 793,633 | 9.49 | 1.52 |
| Brait plc | 0 | 15,199,367 | 30.09 | 5.61 | 15,199,367 | 31.46 | 5.05 |
| Coronation Fund Managers Ltd. | -396,855 | 0 | 0.00 | 0.00 | 396,855 | 15.54 | 2.49 |
| Hosken Consolidated Investments Ltd. | 54,000 | 54,000 | 7.29 | 1.36 | 0 | 0.00 | 0.00 |
| PSG Financial Services Ltd. | 0 | 701,875 | 12.68 | 2.36 | 701,875 | 13.77 | 2.21 |
| Quilter plc | -160,092 | 640,178 | 22.37 | 4.17 | 800,270 | 28.46 | 4.57 |
| Reinet Investments SCA | -39,039 | 0 | 0.00 | 0.00 | 39,039 | 17.46 | 2.80 |
| Investment Banking and Brokerage Services Total | -541,986 | 16,595,420 | 72.43 | 13.51 | 17,137,406 | 106.69 | 17.12 |
| Resources positions individually less than 1% of fund | 0 | 0 | 0.00 | 0.00 | 0 | 5.47 | 0.88 |
| Mining Total | 0 | 0 | 0.00 | 0.00 | 0 | 5.47 | 0.88 |
| OUTsurance Group Ltd. | -55,386 | 175,923 | 12.26 | 2.29 | 231,309 | 15.38 | 2.47 |
| Santam Ltd. | -11,194 | 32,222 | 12.02 | 2.24 | 43,416 | 17.05 | 2.74 |
| Non-life Insurance Total | -66,580 | 208,145 | 24.29 | 4.53 | 274,725 | 32.43 | 5.20 |
| Bid Corporation Ltd. | 63,312 | 63,312 | 27.82 | 5.19 | 0 | 0.00 | 0.00 |
| Dis-Chem Pharmacies Ltd. | 0 | 754,278 | 22.85 | 4.26 | 754,278 | 27.23 | 4.37 |
| Shoprite Holdings Ltd. | 20,397 | 20,397 | 5.56 | 1.04 | 0 | 0.00 | 0.00 |
| The SPAR Group Ltd. | -124,706 | 0 | 0.00 | 0.00 | 124,706 | 18.22 | 2.92 |
| Personal Care, Drug and Grocery Stores Total | -40,997 | 837,987 | 56.24 | 10.49 | 878,984 | 45.45 | 7.29 |
| Aspen Pharmacare Holdings Ltd. | -34,051 | 113,666 | 18.61 | 3.47 | 147,717 | 24.35 | 3.91 |
| Pharmaceuticals and Biotechnology Total | -34,051 | 113,666 | 18.61 | 3.47 | 147,717 | 24.35 | 3.91 |
| Impala Platinum Holdings Ltd. | 58,942 | 58,942 | 7.42 | 1.38 | 0 | 0.00 | 0.00 |
| Northam Platinum Holdings Ltd. | 23,897 | 183,478 | 24.02 | 4.48 | 159,581 | 15.54 | 2.49 |
| Precious Metals and Mining Total | 82,839 | 242,420 | 31.44 | 5.86 | 159,581 | 15.54 | 2.49 |
| Property positions individually less than 1% of fund | 0 | 0 | 0.79 | 0.15 | 0 | 0.91 | 0.15 |
| Real Estate Total | 0 | 0 | 0.79 | 0.15 | 0 | 0.91 | 0.15 |
| CA Sales Holdings Ltd. | -63,901 | 1,044,687 | 17.76 | 3.31 | 1,108,588 | 17.96 | 2.88 |
| Cashbuild Ltd. | -77,094 | 0 | 0.00 | 0.00 | 77,094 | 16.31 | 2.62 |
| KAL Group Ltd. | 0 | 273,191 | 11.06 | 2.06 | 273,191 | 13.93 | 2.24 |
| Pepkor Holdings Ltd. | 0 | 393,955 | 10.06 | 1.88 | 393,955 | 11.40 | 1.83 |
| We Buy Cars Holdings Ltd. | -50,080 | 301,462 | 12.70 | 2.37 | 351,542 | 15.13 | 2.43 |
| Woolworths Holdings Ltd. | 0 | 130,885 | 6.68 | 1.25 | 130,885 | 8.16 | 1.31 |
| Retailers Total | -191,075 | 2,144,180 | 58.25 | 10.87 | 2,335,255 | 82.90 | 13.31 |
| Altron Ltd. | -291,939 | 616,533 | 12.79 | 2.39 | 908,472 | 19.31 | 3.10 |
| Bytes Technology Group plc | 0 | 86,173 | 9.93 | 1.85 | 86,173 | 8.47 | 1.36 |
| Capital Appreciation Ltd. | -7,382,421 | 0 | 0.00 | 0.00 | 7,382,421 | 11.63 | 1.87 |
| Prosus NV | 34,273 | 34,273 | 28.84 | 5.38 | 0 | 0.00 | 0.00 |
| Software and Computer Services Total | -7,640,087 | 736,979 | 51.56 | 9.62 | 8,377,066 | 39.40 | 6.32 |
| Portfolio Total | -12,606,573 | 33,143,658 | 536.15 | 100.00 | 45,750,231 | 623.08 | 100.00 |